Views on BHEL 4QFY2014 results - Angel Broking

Views of Mr. Amit Patil (Research Analyst – Capital Goods, Angel Broking) on BHEL 4QFY2014 results:

BHEL's top-line and bottom-line performance below our expectations

"For 4QFY2014, BHEL's top-line and bottom-line performance were below our expectations. The company reported 21.7% yoy decline in top-line to Rs. 15,031cr due to execution delays (on account of delays in obtaining necessary clearances). Power segment reported 21.4% yoy decline in revenues to Rs. 12,211cr while Industry segment reported 25.8% yoy decline in revenues to Rs. 3,221cr. On the EBITDA front, the company's margin contracted by 604bp yoy to 18.2%. Consequently, net profit declined sharply by 42.8% yoy to Rs. 3,238cr. We maintain our Neutral recommendation on the stock as declining order backlog limits revenue visibility for BHEL."

Shares of BHARAT HEAVY ELECTRICALS LTD. was last trading in BSE at Rs.262.65 as compared to the previous close of Rs. 260.35. The total number of shares traded during the day was 994205 in over 16985 trades.

The stock hit an intraday high of Rs. 263.95 and intraday low of 257.75. The net turnover during the day was Rs. 259957051.

Source : Equity Bulls

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